Montréal, September 25, 2023

Press Release

Hydro-Québec announces the creation of a new team to develop a roadmap to guide Quebec’s energy and economic transition

In light of the scale and importance of the challenges to be met in the coming years, Hydro-Québec is announcing today the creation of a new team – a center of expertise – that will work in close collaboration with the Government of Québec to develop a roadmap to guide our energy and economic transition.

The mandate of this new team is to build strategies that will at the same time contribute to decarbonizing Quebec’s economy and enhance economic prosperity. Working with the government, it will draw on the vast expertise of Hydro-Québec, while also soliciting the views of independent experts and the representatives of communities and Indigenous peoples.

This center of expertise will be established in a new group within the company – Strategy and Finance        – that will bring together its current strategic planning, finance, and risk management activities. Consolidating these new and existing elements in a single group will bring decarbonization and economic prosperity to the center of Hydro-Québec’s planning and resource allocation. It will enable the Company to bring all the levers at its disposal to bear on this top priority.

Maxime Aucoin is named Executive Vice President – Strategy and Finance

Maxime Aucoin joins Hydro-Québec to lead the new group – Strategy and Finance. Mr. Aucoin has over 20 years of experience in finance and strategy. He is currently Executive Vice-President, Depositors and Total Portfolio at la Caisse de dépôt et placement du Québec. In this role, he is responsible for asset allocation, economic and financial analysis as well as global strategy for the organization. He holds an MBA from Harvard Business School and a bachelor’s degree in finance from HEC Montréal. He is also a Chartered Financial Analyst (CFA).

“By creating a new center of expertise, we will be able to fully leverage Hydro-Québec’s expertise to guide our energy and economic transition. We are also making our Company more agile and better aligned with our highest priorities by combining this center of excellence, strategic planning, and resource allocation under the leadership of a single executive. I am delighted to welcome Maxime into that role. He is a seasoned executive whose experience will greatly contribute to our Company,” said Michael Sabia, President and CEO of Hydro-Québec.

Mr. Aucoin’s appointment is effective October 10, 2023.

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